CAI Investments
Kimpton Hotels & Restaurants Breaks Ground on First Newly Constructed Non-Gaming Hotel in Reno
Kimpton Hotels & Restaurants | May 17, 2022
SAN FRANCISCO (May 17, 2022) – Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, joined CAI Investments, key stakeholders and local officials on Friday, May 13 for a ceremonial groundbreaking event to mark the progress on its new hotel in Reno, Nevada. When it opens in late 2024, the new Kimpton in Reno will become the first newly constructed non-gaming hotel built in the city. With a prime location in the heart of Downtown and across the street from the Truckee River and Wingfield Park, the hotel will become a beacon for boutique hospitality in the “Biggest Little City in the World....
Crescent Hotels & Resorts Opens The Westin Tempe in Arizona
The Westin Tempe | August 25, 2021
Tempe, Ariz. – August 25, 2021 – As the largest new hotel to debut in Tempe, Ariz. in nearly four decades, The Westin Tempe is now open in the city’s vibrant downtown district, ushering in a refreshing biophilic energy to the neighborhood along with a new signature restaurant and the Valley’s highest open-air rooftop bar and lounge. Owned and developed by CAI Investments and managed by Crescent Hotels & Resorts, the full-service hotel boasts 290 spacious guest rooms and suites and approximately 21,000 square feet of exceptional indoor and outdoor event space that strike a balance between Tempe’s unique culture and the b...
The Westin Tempe Nears Completion, Sets Sights on Late Summer 2021 Opening
The Westin Tempe | June 15, 2021
Tempe, Ariz. – June 15, 2021 – The seasoned hospitality team behind the highly anticipated hotel The Westin Tempe announced today that the property is nearing completion and is expected to make its debut this August, marking the city’s largest new hotel opening in nearly four decades. Centrally located within Tempe, Ariz.’s downtown district, the full-service hotel will offer 290 spacious guest rooms and suites as well as a sophisticated ambience that is infused into every aspect of the hotel’s design, services and amenities. Envisioned as the quintessential destination for the modern, wellness-focused traveler, the hotel will...
Caesars Entertainment and VICI Properties Complete Sale of Harrah’s Reno to CAI Investments for $41.5M
Caesars Entertainment | October 1, 2020
NEW YORK - Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have completed the previously disclosed transaction to sell Harrah’s Reno Hotel and Casino (“Harrah’s Reno”) to an affiliate of CAI Investments for $41.5 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. Forward-Looking Statements This press release includes forward-looking statements within the me...
Caesars Entertainment and VICI Properties to Sell Harrah’s Reno to CAI Investments for $50M
Caesars Entertainment | January 16, 2020
LAS VEGAS, Jan. 16, 2020 -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment" or "Caesars") and VICI Properties Inc. (NYSE:VICI) ("VICI Properties" or "VICI") today announced they have signed an agreement to sell Harrah's Reno Hotel and Casino ("Harrah's Reno") to an affiliate of CAI Investments (the "Buyer") for $50 million. The proceeds of the transaction shall be split 75% to VICI and 25% to Caesars, while the annual rent payments under the Non-CPLV Master Lease between Caesars and VICI will remain unchanged. Under the terms of the agreement, Caesars will continue to operate the property upon closing of the tra...
CAI Investments Celebrates Groundbreaking of Las Vegas’ First Delta Hotels by Marriott
CAI Investments | July 10, 2019
LAS VEGAS, July 10, 2019 -- On Wednesday, June 26, CAI Investments broke ground on the future site of Las Vegas' first Delta Hotels by Marriott, located at 3883 West Flamingo Road. To celebrate the project, Clark County Commissioner Michael Naft, CAI Investments' founder, Christopher Beavor, and executives from Marriott International and Crescent Hotels & Resorts, posed for a ceremonial shovel dig and June 26, 2019 was officially declared "CAI INVESTMENTS – DELTA HOTEL DAY." The high-end, 24-floor hotel will offer tourists and convention guests a full-service, functional experience through approximately 10,000 square feet of meeting ...
